The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Intelsat Holdings S.A. in the US by Germany’s Allianz SE.
Allianz is the ultimate parent of the Allianz group, a global financial services company active predominantly in life and non-life insurance and asset management.
In a statement, the EC said that it “concluded that the proposed acquisition would raise no competition concerns given the absence of horizontal overlaps or vertical relationships between the activities of the companies. The transaction was examined under the simplified merger review procedure”.
As previously reported by Broadband TV News, last month the US Bankruptcy Court for the Eastern District of Virginia, Richmond Division approved Intelsat’s Plan of Reorganisation.
